Tin price on the way up

The tin price has broken through the US$30,000 mark. China’s imports have already increased this year and concerns about tin supply have risen by 17 percent. As recently as March 2022, a ton of zinc cost around US$50,000. Then the price fell to around US$17,000. That’s because lockdowns caused solder demand to cool. But now the picture has changed. In 2023 alone, the tin price has already gone up about 17 percent. In 2022, China ordered more than 31,000 metric tons, compared to just 4,900 metric tons of tin in 2021. China’s tin exports in 2022 were 10.7 tons of zinc. Exports from Indonesia also increased by about five percent last year. Peru is struggling with protests, hence supply concerns, Peru is now an important tin country. China, Indonesia and Peru are among the most important tin-producing countries.

Now Chinese traders are stocking up on tin, which is driving up the price. As we know, China has dropped corona restrictions, so the economy can be ramped up again, and that’s where solder is needed. Also, one of China’s goals is to make Chinese industry more advanced and not to miss out on anything when it comes to the latest technology. Solar panels and electric vehicles are fueling tin demand, especially in China where the government is encouraging growth. According to estimates, the solar industry consumed at least 22,000 tons of tin last year. Electric vehicles require about 1.2 kilograms of tin to be installed, compared with only about 0.4 kilograms for conventional vehicles. Companies like First Tin and Tin One Resources have tin in their properties.

Tin One Resources‘ – https://www.commodity-tv.com/play/mining-newsflash-with-with-victoria-gold-gold-terra-tinone-resources-canada-nickel-labrador-uranium-and-mag-silver/ – projects are already advanced and located in Tasmania and mainland Australia.

First Tin – https://www.commodity-tv.com/play/mining-newsflash-with-vizsla-silver-torq-resources-first-tin-sibanye-stillwater-and-mawson-gold/ – is also on the road in Australia, moreover in Germany in terms of tin.

Corporate information and press releases from First Tin (- https://www.resource-capital.ch/en/companies/first-tin-plc/ -).

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